Irish ports will be at risk of a “significant degree of additional isolation” post-Brexit and will require increased EU funding for continued development, according to the Port of Cork chief executive.

Brendan Keating said that there was a case to be made for grant aid from the EU institutions akin to current arrangements for EU subventions of Irish airports, according to the Irish Examiner.

“We will be significantly more isolated because of Brexit,” he said. “I’m concerned about maritime transport connectivity. State aid rules as currently constituted don’t allow EU support of the purchase of ships or that kind of mobile asset, I believe.

“However, I do believe some kind of subvention can be issued to operators of such ships for such services,” he said at a business breakfast meeting of Cork Chamber. “We have similar arrangements in terms of the servicing of regional airports of this country, to the public service obligations-type instruments.”

Surging Business

The Port of Cork has seen a surge in imports and exports, oil traffic and cruise liners over the last year, according to Keating.

He added that the developing the Tivoli suburb on the north side of Cork city from 2025 would provide the capacity for 5,000 homes when the Port vacates the land.

Cork’s docklands could provide an ideal location for an international shipping services centre, along with the significant current private development, according to Keating.

He added that the Ringaskiddy port €80 million redevelopment was essential for the future of the Port of Cork and that the container terminal would be completed by mid-2020.